Global insurer and reinsurer American International Group (AIG) has appointed Michael Price as Deputy Chief Underwriting Officer (CUO) for General Insurance.
He joins AIG from Arch Insurance Group, where he most recently served as its CUO for North America.
As AIG’s Deputy CUO, Price will work closely with CUO Tom Bolt, who joined the company in December 2017 from Berkshire Hathaway Specialty Insurance Company (BHSI).
Prior to BHSI, Bolt was the Director of Performance Management at Lloyd’s of London.
Price will now be responsible for leading the global implementation of AIG’s underwriting framework and guidelines, while working to operationalise the implementation and governance of this framework in other functional areas.
While at Arch, Price had direct management oversight of a $2.5 billion diversified underwriting platform and a team of underwriting and marketing professionals that were focused on Property, Casualty, Group Captives, Programs, Travel & Accident, Surety, Management & Professional Liability, and Lenders & Warranty products.
He joined Arch in 2009 as Senior Vice President, Executive Assurance and was originally tasked with managing the company’s Financial Institutions, Alternative Asset Protection and Growth & Middle Market underwriting units.
In 2013, he became Senior Vice President, Operations and was responsible for workflow standardisation, data analytics and reporting, and business systems integration for Arch’s U.S underwriting operations.
Between 1995 and 1997, Price served as a Senior Underwriter at AIG, and he has also previously held positions at The Hartford, Reliance National, and Chubb.
